Adviser to pay compensation over Harlequin investment advice

In 2012, the claimant - called Mr T by the FOS - invested £30,000 of his self-invested personal pension (SIPP) into Harlequin. He had met with Atlantic Overseas, an unregulated company linked to the scheme, and the investment was placed in a new Lifetime company SIPP. The pension transfer was processed by advice firm LP Financial Management, which Mr T had not met. In December 2012, LP wrote to Mr T offering a retrospective review of the pension transfer process as part of their ongoing monitoring programme. It said the transfer was not in Mr T's best interest and, while it accepted no r...